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Enoch Yiu

Hong Kong’s stock market is facing renewed pressure to accelerate its review of longer trading hours after South Korea’s main bourse extended its session by four hours on Monday, according to an industry player.
The Korea Exchange, South Korea’s bourse operator, launched a real-time after-market from 4pm to 8pm in addition to regular trading from 9am to 3.30pm.
It also signalled ambitions to expand to nearly 24-hour trading, following similar plans by Nasdaq and the London Stock Exchange.
The extension means South Korea’s main stock market now trades 10 and a half hours on weekdays, almost double Hong Kong’s five and a half hours from 9.30am to 4pm with a one-hour lunch break.
In July, Hong Kong Exchanges and Clearing (HKEX) and the Securities and Futures Commission (SFC) separately told the South China Morning Post they were exploring longer hours but gave no details.
The latest move by South Korea could prompt HKEX and the SFC to speed up consultation, said Tom Chan Pak-lam, honorary president of the Institute of Securities Dealers.
“South Korea’s after-hours launch is another data point in the global lengthening of trading sessions and reinforces the case for Hong Kong to keep studying and potentially phasing in better accessibility for global investors,” he said.
HKEX will make adjustments … based on the local market environment and actual demand … rather than solely looking at changes in other markets
Kenny Ng, Everbright Securities International
An HKEX spokesman said on Monday that the bourse “is committed to enhancing Hong Kong’s competitiveness as an international financial centre and regularly reviews opportunities to improve market accessibility to meet evolving investor demand”.
He said further updates would be provided in due course.
Echoing that stance, an SFC spokesman said the regulator was working with HKEX to explore various initiatives to enhance market competitiveness.
“The SFC has had preliminary discussions with HKEX regarding possible enhancements to trading hours to assess their impact, and remains committed to working closely with stakeholders to strengthen the global competitiveness and attractiveness of Hong Kong’s capital market,” he said.
Kenny Ng Lai-yin, a strategist at Everbright Securities International, said it was worth examining whether South Korea’s extension would boost turnover, which would be a useful reference for the HKEX.
“HKEX will make adjustments on trading hours based on the local market environment and actual demand of the market, rather than solely looking at changes in other markets,” Ng said.
Stockbrokers, however, have concerns regarding longer trading hours.
“Whatever HKEX does, I believe they will need to get sufficient consensus and feedback from the market first instead of hastily launching it without taking into consideration the practical challenges of our markets,” said Robert Lee Wai-wang, a lawmaker for the financial services sector and chairman of Grand Finance Group.
“Nonetheless, it is likely a good time to review holistically what benefits and challenges extended hours would bring to our markets and consult stakeholders for the way forward.”


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Korea Exchange launches four-hour after-market in addition to regular trading, intensifying debate in Hong Kong over extending hours


Korea Exchange launches four-hour after-market in addition to regular trading, intensifying debate in Hong Kong over extending hours.


Hong Kong faces pressure to speed up trading hours review after South Korea’s move

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Korea Exchange launches four-hour after-market in addition to regular trading, intensifying debate in Hong Kong over extending hours

Korea Exchange launches four-hour after-market in addition to regular trading, intensifying debate in Hong Kong over extending hours